LONDON (Reuters) – European stocks fell on Friday, halting their greatest ever three-day rally in a sign investors were focusing again on the spread of the coronavirus pandemic regardless of hopes for further stimulus procedures to combat its economic impact.
SUBMIT PHOTO: A basic view reveals the German share prize index DAX board during afternoon trading as markets react on the coronavirus disease (COVID-19) at the stock market in Frankfurt, Germany, March 16,2020 REUTERS/Kai Pfaffenbach
The pan-European STOXX 600 index was down almost 2%in early offers.
The benchmark index has recovered almost 17?cause hitting its lowest given that 2013 on March 16, but remains more than 26%listed below last month’s all-time high in a thrashing that has actually erased more than $3 trillion from the value of European companies.
Stock exchange have rallied over the past week on the back of trillions of dollars of enacted and promised economic stimulus by policymakers worldwide, from reserve banks to federal governments.
In Europe, where the pandemic is still far from consisted of, policymakers have suspended state help rules and limits on public borrowing and authorized $40 billion in emergency funds to assist airline companies, among the hardest hit in the worldwide emergency.
The losses followed stock markets rallied in Asia and Wall Street over night.
MSCI’s All Nation World Index, which tracks stocks throughout 49 countries, was down 0.1%on the day.
E-Mini futures for the S&P 500 reversed course and fell 1.5%follo